Richard Basciano, American property developer, Died at 91

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Richard Basciano was born on July 16, 1925, and died on May 1, 2017.

He was an American property developer active in New York City and Philadelphia.

During the 1970s and 1980s, his real estate empire was centered on the Show World Center, New York’s largest and oldest sex emporium.

Basciano was dubbed the “porn king of Times Square” in press reports.

Basciano was the best-known property in Philadelphia was the Forum Theatre, an adult theatre.

During early June 2013, a building controlled by Basciano at 2136 Market Street in Philadelphia collapsed during demolition, killing six and injuring thirteen.

During early 2017, Basciano was among those found to be liable for the disaster.

Since the mid-1990s, the adult entertainment industry was undergoing rapid change.

However, efforts by the city to sanitize Times Square compounded the widespread adoption of VCRs.

Basciano was operating through STB Investment Group and other firms, Basciano sold his properties as neighborhoods became gentrified.

He died in New York City.

Richard Basciano passed away at 91 years old.

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